Global Marine Engines
Market Report
2024
The global Marine Engines market size is USD 13.9 billion in 2024. The Marine Engines market will show strongest growth with a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. The marine engine market is predicted to grow as a result of factors such as the rise in international marine freight transport, the high demand for two-stroke marine engines, and the rise in water sports and leisure activities.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Marine Engines market size is USD 13.9 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Marine Engines Market Sales Revenue 2024 | $ 13.9 Billion |
Global Marine Engines Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.2% |
Market Split by Engine |
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Market Split by Type |
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Market Split by Power Range |
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Market Split by Fuel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Marine Engines industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Marine Engines Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Marine engines are specially designed machinery that power and drive ships in maritime environments. A 4- or 2-stroke marine engine is used to facilitate propulsion. Smaller vessels often use 4-stroke engines, which generate electrical energy and propel the ship, whereas 2-stroke engines are used for propulsion. The market for marine engines is expanding quickly due to rising investments in refurbishing pre-owned marine engines and increasing efforts to maximize vessel efficiency. Some of the key factors driving the marine engines market are the expansion of international marine freight transit, a rise in maritime tourism, an increase in worldwide import and export, and technological advancements. Despite the growing demand for dual-fuel engines and greater naval budget, the marine engine market is experiencing new growth opportunities due to the growing acceptance of greener fuels like LNG, solar, and wind power.
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January 2024: The Indian Navy and Coast Guard will benefit from the fast patrol boats and interceptor boats that PSU Garden Reach Shipbuilders and Engineers (GRSE) and UK's Rolls-Royce will produce using a "frame and individual license" agreement. The government ships will be powered by MTU IMO Tier II compliant Series 4000 marine engines. (Source: https://m.economictimes.com/news/defence/grse-rolls-royce-sign-license-agreement-to-manufacture-mtu-s4000-govt-marine-engines-in-india/amp_articleshow/107267995.cms )
Top Companies Market Share in Marine Engines Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The region's wide internal canals and coastline, which encourage a lot of maritime activity and a need for marine engines, are to blame for this increase. Furthermore, North America's dominance in the marine engines industry is supported by the country's well-established shipbuilding and maritime sectors and its high naval defense budget. Last but not least, the leisure marine industry's need for marine engines is fueled by rising tourism, especially in coastal areas.
Asia-Pacific stands out as the fastest-growing region in the Marine Engines market due to a number of variables that work together to favor the building of ships and the production of engines. Since Asia Pacific is becoming a major hub for global manufacturing, especially for ships and marine equipment, there is a significant need for marine engines within the region due to the presence of well-known shipyards with extensive experience in shipbuilding located in nations like South Korea, China, and Japan. In order to reach production targets, these shipbuilders depend on a consistent supply of engines. Asia Pacific effectively meets this demand thanks to a strong domestic engine manufacturing base, further establishing its market leadership.
The current report Scope analyzes Marine Engines Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Marine Engines Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Marine Engines Industry growth. Marine Engines market has been segmented with the help of its Engine, Type Power Range, and others. Marine Engines market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Marine Engines market.
Engine of Marine Engines analyzed in this report are as follows:
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Marine Engines from 2019 to 2031. This will also help to analyze the demand for Marine Engines across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Type of Marine Engines are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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According to cognitive market research, Heavy Fuel Oil is the dominant category. Due to its cheaper cost when compared to alternatives like marine diesel oil, HFO is the principal fuel source for a vast number of boats, especially commercial ships. HFO supremacy in the market endures despite environmental worries about its emissions due to economic constraints and the lack of widely accepted alternative propulsion technologies.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Marine Engines Market is witnessing significant growth in the near future.
In 2023, the Propulsion Engine segment accounted for noticeable share of global Marine Engines Market and is projected to experience significant growth in the near future.
The Two Stroke segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies MAN Energy Solutions , Shanghai Diesel Engine and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Engine | Propulsion Engine, Auxiliary Engine |
Type | Two Stroke, Four Stroke |
Power Range | Up to 1, 000 hp, ??1, 001-5, 000 hp, ??5, 001-10, 000 hp, ??10, 001-20, 000 hp, ??Above 20, 000 hp |
Fuel | Marine Diesel Oil, ??Heavy Fuel Oil, ??Marine Gas Oil, ??Others |
List of Competitors | MAN Energy Solutions, Duetz, Shanghai Diesel Engine, John Deere, Volvo Penta, Brunswick, Wärtsila, Cummins, Anglo Belgian Corporation, Caterpillar, Weichai, Rolls Royce, STX Engines, Yanmar Holdings, Scania, Yamaha, ІНІ |
This chapter will help you gain GLOBAL Market Analysis of Marine Engines. Further deep in this chapter, you will be able to review Global Marine Engines Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Engine Analysis 2019 -2031, will provide market size split by Engine. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Engine Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Power Range Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Fuel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Marine Engines market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Propulsion Engine have a significant impact on Marine Engines market? |
What are the key factors affecting the Propulsion Engine and Auxiliary Engine of Marine Engines Market? |
What is the CAGR/Growth Rate of Two Stroke during the forecast period? |
By type, which segment accounted for largest share of the global Marine Engines Market? |
Which region is expected to dominate the global Marine Engines Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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